Student Loan Servicing Complaints Spiked Exponentially Over Past Year

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Student Loan Servicing Complaints Spiked Exponentially Over Past Year

Mar, 29th 2017

In the past year, federal regulators and consumer advocates have highlighted issues with student loans and the servicing of these often crippling debts: from finding that educational loans continue to haunt older borrowers, to suing Navient, the largest student loan servicing company. Because of this, it might not come as much of a surprise that the number of complaints the Consumer Financial Protection Bureau received related to student loans has skyrocketed.

Today, the Bureau released its monthly complaint snapshot, which shows a 429% increase in student loan complaints received in a year-to-year comparison of just...

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